SC: CBDT Circulars do not Bind Courts in Income Tax Matters || SC: Gujarat Saw Several Hooch Tragedies despite Prohibition on Liquor || SC: Interest Continues if Award-Holder Cannot Freely Withdraw Conditional Deposit || SC Urges Law Commission to Examine Law Governing Deposits Made in Courts || SC: Civil Court Cannot Grant Interim Relief While Leave Application Against Public Trust is Pending || Calcutta HC Upholds ITC Injunction, Says ‘Gold’ Has Acquired Secondary Meaning || MP High Court Denies Compensation as Pregnancy Pre-Dated Sterilization Surgery || Delhi HC: MACT Must Assess Claimant’s Need Before Denying Release of FDR Compensation || Delhi HC Orders Interpol Red Corner Notice Against Man Facing Contempt Over Remarks Against Judges || Gujarat HC Allows Seven-Day Parole to Convict in Bilkis Bano Case

Delhi HC: RBI's Intention is to Maintain Status Quo on Account Classification as on March 1 - (15 Apr 2020)

BANKING

Delhi High Court has provided interim relief to an account from being declared a Non Performing Asset by the Punjab & Sind Bank in light of the moratorium allowed by the Reserve Bank of India (RBI) by its circular issued on 27th March, 2020. The Court has observed that the intention of the RBI while issuing the regulatory package was to maintain status quo with regard to the classification of accounts of the borrower as they existed on 1st March, 2020.

Tags : DELHI HIGH COURT RESERVE BANK OF INDIA STATUS QUO ON ACCOUNT CLASSIFICATION

Share :